SAMARTH AVIATION

TRADING DIVISION
Trading - Items/Materials for Aviation Industry

PART I - ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

PART A - OPERATING STATEMENT (Amount Rs. In Lacs)

MAR-2011 MAR-2012 MAR-2013 MAR-2014 MAR-2015

Actual as Actual as Actual as Actual as Actual as

per Balance per Balance per Balance per Balance per Balance
Sheet Sheet Sheet Sheet Sheet

(1) (2) (3) (5) (6) (7)

1. Gross Sales (net of returns) 159.31 161.87 104.25 119.42 135.00

2. M VAT 31.23 16.07 9.42 8.35 12.00

3. Net Sales (item 1 minus 2 ) 128.08 145.80 94.83 111.07 123.00

4 Cost of Sales
i ) Purchase ( Import ) 44.70 93.36 78.22 53.58 56.47
ii) Local 22.43 0.00 0.00 9.98 20.82

a ) Operating Expenses

ii) Freight & Forwarding 0.00 0.00 9.16 17.44 14.08

iii) Customs & Octroi 24.14 8.49 10.92 18.08 17.70

vii) Depreciation 0.32 0.24 0.22 0.22 0.31

viii) Sub- total (items I to vii) 91.59 102.09 98.52 99.30 109.38

ix) Add : Opening Stock 0.00 0.00 3.96 42.72 23.55

x) Deduct- Closing Stock 0.00 3.96 42.72 23.55 41.16

xi) Sub- Total 91.59 98.13 59.76 118.47 91.77

 SAMARTH AVIATION
MAR-2011 MAR-2012 MAR-2013 MAR-2014 MAR-2015
xii) Add- Opening Stock of finished
Goods

xii) Deduct- Closing stock of finished

Goods

xi) Sub- Total 91.59 98.13 59.76 118.47 91.77

5 Gross Profit 36.49 47.67 35.07 -7.40 31.23

Gross Profit in % 28.49 32.70 36.98 -6.66 25.39
6 Interest 0.00 0.00 1.86 2.90 5.58
Bad Debts 0.00 0.00 0.00 26.23 0.00
7 General & Administrative Expenses 21.82 32.75 16.81 18.79 16.77
Selling Expenses 1.92 3.45 8.00 1.25 1.48
Sub-total (item 6 plus item 7) 23.74 36.20 26.67 49.17 23.83

8 Operating Profit (item 5 minus total 12.75 11.47 8.40 -56.57 7.40
of item 6 and 7)

9 Other income/ Expenses

Add: Income 0.00 0.00 0.00 0.00 0.00

Deduc Expenses

Sub Total 0.00 0.00 0.00 0.00 0.00

10 Profit Before tax/ loss 12.75 11.47 8.40 -56.57 7.40

(item 8 plus item 9)

11 Provision for taxes 0.00 0.00 0.00 0.00 0.00

12 Net Profit
(item 10 minus item 11 ) 12.75 11.47 8.40 -56.57 7.40
Net Profit In % 8.0% 7.1% 8.1% -47.4% 5.5%
 SAMARTH AVIATION
FORM II PART B
POSITION REGARDING CURRENT ASSETS & CURRENT LIABILITIES

MAR-2011 MAR-2012 MAR-2013 MAR-2014 MAR-2015

1 Current Assets

I) Raw material (includes consumables

stores and other items used in mfg.
a) Imported
( Months' Consumption )

b) Indigeneous 0.00 0.00 0.00 0.00 0.00

( Months' Consumption In Days )

ii) Other Spares (Excluding those in

item I above)
(Months' Consumption )
(100% of total inventory and
months consumption )

iii) Stock in Process

(Months' Cost of prodn.) 3 Days

iv) Finished Stock 0.00 3.96 42.72 23.55 41.16

(Months' Cost of sales ) 7 Days

v) Receivable other than export and 15.20 14.99 49.38 9.23 15.32
defered receivable ( including bills
purchased and discounted by bankers)
Months' Domestic Sales
excluding defer payment sale. 10 Days

vi) Export Receivable ( including bills

purchased and discounted by bankers),
Months' export Sales

vii) Advance
viii) Other current assets including 36.38 24.43 4.09 1.10 0.37
cash & bank balances & deferred 51.88 2.77 2.77 5.00
receivable due within one year

TOTAL CURRENT ASSETS 51.58 95.26 98.96 36.65 61.85

51.58 95.26 98.96 36.65 61.85

 MAR-2011 MAR-2012 MAR-2013 MAR-2014 MAR-2015
2. Current Liabilities
( other than bank borrowings
for working capital )

I ) Creditiors for purchase

37.94 74.54 76.61 4.62 6.91

( Months' Consumption )
5 Days
II ) Advance from customers

III ) Accrued expenses

IV ) Statutory liabilities 0.00 10.52

a ) TDS payable 0.00 0.00 0.14
b)
c)

Sub Total 37.94 74.54 76.75 4.62 6.91

3. Working capital Gap 13.64 20.72 22.21 32.03 54.94

( I minus II )

4. Actual / Projected bank borrowings

for working capital including
bill purchased & discounted & excess
borrowing placed on repayment basis. 0.00 0.00 39.25 31.33 47.75

5. Total Current Liabilities 37.94 74.54 116.00 35.95 54.66

6. Net working Capital 13.64 20.72 -17.04 0.70 7.19

( II plus V )

0
FORM - II PART C
COMPUTION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

MAR-2011 MAR-2012 MAR-2013 MAR-2014 MAR-2015

1. Working Capital Gap 13.64 20.72 22.21 32.03 54.94

( item III of Part B )
2. Minimum stipulated Net
Working Capital
( 25 % of item 1 ) 3.41 5.18 5.55 8.01 13.74

3. Actual / Projected Net

Working Capital.
( item VI of Part B ) 13.64 20.72 -17.04 0.70 7.19

4. Item 1 minus item 2. 10.23 15.54 16.66 24.02 41.21

5. item 1 minus item 3. 0.00 0.00 39.25 31.33 47.75

6. Maximum permissible
bank finance ( lower
of item 4 and 5 0.00 0.00 39.25 31.33 47.75

7. Excess borrowings
( representing shortfall in -10.23 -15.54 22.59 0.00 0.00
working Cap. To be converted in
working Capital term loan
( item 2 minus 3 )
2nd METHOD OF LENDING

1. Working Capital Gap 13.64 20.72 22.21 32.03 54.94

( item III of Part B )

2. Minimum Stipulated Net Work-

ing Capital
( 25 % of Total Curr.Assets
item of Part B ) 12.90 23.82 24.74 9.16 15.46

3. Actual / Projected Net

Working Capital
( Item 6 of Part B ) 13.64 20.72 -17.04 0.70 7.19

4. Item 1 minus Item 2. 0.75 -3.10 -2.53 22.87 39.48

5. Item 1 minus item 3. 0.00 0.00 39.25 31.33 47.75

6. Maximum permissible 0.00 0.00 0.00 22.87 39.48

bank finance ( lower
of item 4 and 5 )

7 Excess borrowings 8.46 8.27

( representing shortfall in
working Cap. To be converted
in W.C.term loan ( item 2 minus 3 )
FORM - II PART - F

PROFORMA STATEMENT OF STOCKS AND RECEIVABLE

Provisional Figures as per Projected Papers.

Particulars Quantity Value

in M.tons
( a Raw materials ( including
stores & other item used
in mfg process )

( I ) Imported ( - months consump )

( II ) Indigenous ( - month consump. )

25 Days

( b Other consumable spares

( 100 % of total inventory )
( months consump )

( c )Stock in process
(Month' cost of production)(included in R.M.)
3 Days
( d Finished Goods
( months Cost of Sales )
10 Days
( e Receivable ( other than export
and deferred receivable )
( including purchased and
discounted by bankers ) ---
( months domestic sales )
21 Days
Expensed ( month )
30 Days

( f ) Export Receivable --- ---

(including purchased and
and discounted by bankers )
( months' export sales )
FORM - III
PART - A BALANCE SHEET SPREAD
SAMARTH AVIATION
(Amount Rs. In Lacs)
MAR-2011 MAR-2012 MAR-2013 MAR-2014 MAR-2015

CURRENT LIABILITIES

1. Short term borrowing from

banks ( including bills purchased
and the excess borrowing placed
on repayment basis )

( I ) from applicable bank 0.00 0.00 39.25 31.33 47.75

( ii ) from other banks 0.00 0.00 0.00 0.00 0.00

Sub Total [ A ] 0.00 0.00 39.25 31.33 47.75

2. Short term borrowing

from others

3. Deposit ( maturing within

one year )

4. Sundry Cteditors ( trade ) 37.94 74.54 76.61 4.62 6.91

5. Unsecured Loans

6. Advance/ Progess payment

from customer / deposits
from dealers, selling agent etc.

7. Interest & other Charges

accrued but not due for payment.

8. Provision for Taxation

9. Dividend payable

10. Other stautory liabilities 0.00 0.00 0.14 0.00 10.52

( due within one year )

11. Instalments of term loans /

defered payment credit /
debentures / redeemable pref.
shares ( due within one year )
 SAMARTH AVIATION
MAR-2011 MAR-2012 MAR-2013 MAR-2014 MAR-2015
12. Other current liabilities &
provisions ( due within one year )
b)

Sub Total ( B ) 37.94 74.54 76.75 4.62 17.43

13. Total Current Liabilities

( Total of items 1 to 12 ) 37.94 74.54 116.00 35.95 65.18

Term Liabilities :
14 Debentures ( not maturing one year )

15. Redeemable Pref.Share ( not

maturing within one year
but of maturity not exceeding 12 years )

16. Term loans ( exclusive of

instalment payable within one year )

17. Unsecured deposits 2.14 2.14 9.24 119.55 108.38

( exclusive of instalment
payable after year )

18. Term Deposit ( repayable

after one year )

19. Other Term Liabilities

20. Total Term Liabilities 2.14 2.14 9.24 119.55 108.38

( Total 14 to 19 )
21. Total Outside Liabilities
( Total 13 plus 20 ) 40.08 76.68 125.24 155.50 173.56

NET WORTH

22. Ordinery Share Capital 12.34 21.50 21.92 -34.65 -27.25

23. Preference Share Capital

( Maturing after 12 year )

24. General Reserve

25. Devlop.Rebate Reserve

 SAMARTH AVIATION
MAR-2011 MAR-2012 MAR-2013 MAR-2014 MAR-2015
26. Other Reserve ( excluding provision )

27. Surplus or Deficit in

profit & Loss A/c.

28. Net worth

( Total of items 22 to 27 ) 12.34 21.50 21.92 -34.65 -27.25

29. Total Liabilities

( item 21 plus item 28 ) 52.42 98.18 147.16 120.85 146.31

CURRENT ASSETS :

30. Cash & Bank Balance 36.38 24.43 4.09 1.10 0.37

31. Investment ( Other than long

long term investment
( e.g Sinking fund, Gratuity fund )

( I ) Government & Other trustee security

( ii ) Fixed Deposits with banks 51.88 2.77 2.77 5.00

32. ( I ) Receivable other than defered

and export receivable ( including
bills purchased & discounted
by bankers ) 15.20 14.99 49.38 9.23 15.32

33. Instalment of defered receivable

( due within one year )

34. Inventory

( I ) Raw material ( including stores

and other items used in process
of manufacturing

( a ) Imported
( b ) indigenious 0.00 0.00

( ii ) Stock in process

( iii ) Finished Goods 0.00 3.96 42.72 23.55 41.16

( iv ) Other consumable spare

 SAMARTH AVIATION
MAR-2011 MAR-2012 MAR-2013 MAR-2014 MAR-2015
35. Advance to supplier of raw
mate. & stores / spares consumable

36. Advance payment of taxes

37. other current assrts ( major

item to be specified )

38. Total Current Assete 51.58 95.26 98.96 36.65 61.85

( Total of 30 to 37 )

FIXED ASSETS :

39. Gross block ( land bldg., 0.79 1.23 2.20 2.22 2.35
machinery,construction in
progress etc.)

40. Depreciation to date 0.32 0.56 0.78 1.00 1.31

41. Net Block

( item 39 minus 40 ) 0.47 0.67 1.42 1.22 1.04

OTHER NON CURRENT ASSETS :

42. Investment / Book Debt / Advance

deposit which are non current
assets.

( I ) ( a ) Investment in subsidi
ary company affiliates 44.54 57.53 57.13

( b ) other 0.37 2.24 2.24 2.24 2.24

( ii Advances to suppliers of
capital goods, spare & contractor
for capital expenditure

( iii Deferred receivables ( other

than those maturing within
one year )

( iv Others
 SAMARTH AVIATION
MAR-2011 MAR-2012 MAR-2013 MAR-2014 MAR-2015
43. Non consumable store / spare

44. Other miscellaneous asset

including due from directors

45. Total other non current assets 0.37 2.24 46.78 59.77 59.37
( Total of item 42 to 44 )

46. intengible assets ( patents,goodwill

preliminery & formation exps. Bad
doubtful debt not provided for etc.)

47. Total Assets

( Total of item 38,41,45, & 46 ) 52.42 98.17 147.16 97.64 122.26

48. Tengible Net Worth ( item 28 - 46) 12.34 21.50 21.92 -34.65 -27.25
49. Net Working Capital ( item 38 - 13 ) 13.64 20.72 -17.04 0.70 -3.33

Additional information, 52.42 98.18 147.16 120.85 146.31

Arrears of Depreciation
Contingent liabilities

( I Arrears of cumulative dividends -0.01 0.00 -23.21 24.05

( ii ) Gratuity

( iii Other liabilities provided for

SAMARTH AVIATION
FORM - III
PART - B ANALYTICAL AND COMARATIVE RATIOS :

MAR-2011 MAR-2012 MAR-2013 MAR-2014 MAR-2015

1. Net Sales 128.08 145.80 94.83 111.07 123.00

2. % rise or fall in net

Sales during the year as
compared to prevolous year 113.8% 65.0% 117.1% 110.7%

3. Profit before tax or loss

( item 10 in Form II - A ) 12.75 11.47 8.40 -56.57 7.40
4. Net Profit or Loss
( item 12 in Form II - A ) 12.75 11.47 8.40 -56.57 7.40
5. ( a ) Equity dividend declared
( b ) Equity dividend paid
( c ) Rate % dividend declared
( d ) Rate % dividend paid

6. Retained profit 12.75 11.47 8.40 -56.57 7.40

7. Retained profit
--------------------- 100.0% 100.0% 100.0% 100.0% 100.0%
% Net Profit

8. Raw material ( includes-

consumable stores and
other iteams used in mfg.
a ) Imported
( Months' Consumption

a ) Indigeneous 0.00 0.00

( Months' Consumption )
25 Days
9. Stock in Process 0.00 0.00
( Months' Cost of prodn.) 0.00 0.00
( Months' Consumption )

10. Finished Stock 0.00 3.96 42.72 23.55 41.16

( Months' Cost of Sales) 2.39 5.38

11. Other Consumable spares 0.00 0.00

( Months' Consumption )
( % of total inventory )

12. ( a ) Receivable other than

export and defered receivble
( including bills purchased and
discounted by bankers )
Month's Domestic sales
excluding defer payment sale 15.20 14.99 49.38 9.23 15.32
21 Days 0.50 1.49
( b ) Export Receivable ( Including bills
purchased and discounted
by bankers, Month's export sales )
13. Sundry Creditors 37.94 74.54 76.61 4.62 6.91
Months' Purchase
4 Days
14. Net Working Capital 13.64 20.72 -17.04 0.70 7.19

15. Current Ratio 1.36 1.28 0.85 1.02 0.95

16. Tengible Net worth 12.34 21.50 21.92 -34.65 -27.25

17. ( a ) Total Outside liabilities

Tengible Net Worth 3.25 3.57 5.71 -4.49 -6.37

( b ) Total term liabilities / 0.17 0.10 0.42 -3.45 -3.98

Tengible Net worth

18. ( a ) Bank borrowing /

Total Outside Liabilities 0.00 0.00 0.31 0.20 0.28

( b ) Net Sales /
Total Tengible Assets /
Notes :
( a If the Company is subsidiary, the extent and nature of interest of the holding company and its
name.
( b If the company is holding company, extent and nature of interest in subsidiary companies and
their names.
SAMARTH AVIATION

FORM IV - FUNDS / FLOW STATEMENT :

MAR-2011 MAR-2012 MAR-2013 MAR-2014 MAR-2015

SOURCES

Profit before tax 11.47 8.40 -56.57 7.40

Add : Depreciation 0.24 0.22 0.22 0.31

Less : Provision for taxatin
preli.exp.w/off
Gross fund generated 11.71 8.62 -56.35 7.71

Less : Taxes paid / Payable 0.00 0.00 0.00 0.00

( relating to year )

Less : Dividend paid / Payable 2.31 7.98 0.00 0.00

( relating to year )

( A ) Net Fund Generated 0.00 9.40 0.64 -56.35 7.71

Increase in Capital 12.34 0.00 0.00

-- do -- term loan / debenture

defered payment liabilities
liabilities 2.14 0.00 7.10 110.31 -11.17

=-- do -- term Deposit / Decrease

in fixed assets 0.00 0.00

=-- Intercorporate investment

and advances.

--- do --- Other non current assets

( B ) Sub Total 14.48 0.00 7.10 110.31 -11.17

Increase in short term bank

borrowings ( including bills
purchased & discounted by
bankers ) 0.00 0.00 39.25 -7.92 16.42

Increase in other current

liabilities. 37.94 36.60 2.21 -72.13 12.81

Decrease in inventory

-- do -- receivable ( including
bills purchased &
discounted bankers)

-- do -- Other current assets 69.45 5.76

-- do-- cash & Bank

( c ) Sub Total 37.94 36.60 110.91 -74.29 29.23

TOTAL FUND AVAILABLE

(A+B+C) 52.42 46.00 118.65 -20.33 25.77
SAMARTH AVIATION
MAR-2011 MAR-2012 MAR-2013 MAR-2014 MAR-2015
USES :

Increase in Fixed assets 0.47 0.44 0.97 0.02 0.00

Decrease in Term Loan / debentur /

defered payment liabilities /
term / public deposits

Increase in inter corporare

investment and advances

Increase in Other noncurrent

assets 0.37 1.87 44.54 12.99 -0.40

( D ) Sub Total 0.84 2.31 45.51 13.01 -0.40

Decrease in other current

liabilities
Bank Borrowings
Increase in inventory 0.00 3.96 38.76 -19.17 17.61

-- do -- receivable ( including 15.20 -0.21 34.39 -40.15 6.09

bills purchased &
discounted bankers)

-- do -- Other current assets 0.00 39.93 0.00 0.00 0.00

-- do -- cash & Bank 36.38 -0.73

( E ) Sub Total 51.58 43.68 73.15 -59.32 22.97

Loss

Add : Taxes paid / Payable

( relating to year )

( F ) Sub Total
Net Fund Lost

Total Fund Available

(D+E+F) 52.42 45.99 118.66 -46.31 22.57
 MAR-2011 MAR-2012 MAR-2013 MAR-2014 MAR-2015
SUMMARY 1 2 3 4 5

Long Term Source 14.48 9.40 7.74 53.96 -3.46

Less : Long Term Uses 0.84 2.31 45.51 13.01 -0.40

Surplus ( + ) / Short Fall ( - ) 13.64 7.09 -37.77 40.95 -3.06

Short Term Source 37.94 36.60 110.91 -74.29 29.23

Less : Short Term Uses 51.58 43.68 73.15 -59.32 22.97

Surplus ( + ) / Short Fall ( - ) -13.64 -7.08 37.76 -14.97 6.26